Home Social Employees to pay 1.5 % of salary to National Housing fund

Employees to pay 1.5 % of salary to National Housing fund

169
0
tax
Workers will be deducted 1.5 per cent from their pay monthly to create a fund to finance a new low-cost housing fund after President Uhuru Kenyatta reinstated the levy that will chop salaries by up to Sh5,000.
Mr Kenyatta’s proposal is higher than the Treasury’s suggestion of 0.5 per cent of the gross pay per month matched by employers, which was rejected by MPs last month.
“An employer shall pay to the National Housing Development Fund… 1.5 per cent of the monthly basic salary,” said Mr Kenyatta in a memo to MPs.